The Federal Financial Institutions Examination Council (FFIEC) has released guidance to US financial institutions regarding their use of free and open source software.   » Continue Reading

Today marks an important milestone in the payments industry as the Check 21 Act becomes effective. A great way to learn more about Act is to visit the Check 21 InfoBase for Flash-based tutorials:

The InfoBase contains a training presentation that provides a concise overview of the Act and its implementing regulation, an example of check processing under Check 21, information on consumer compliance and other requirements, and an explanation of the examination concepts for consumer compliance issues.

The InfoBase was put together by the Federal Financial Institutions Examination Council (FFIEC).

Robin Sidel reports in this morning's Wall St. Journal (sub. reqd.) on the changes in how checks are being processed.   » Continue Reading

Citi has announced the Citi Dividend Merchant Network. Citi Dividend Platinum Select cardholders can earn incremental cash-back rewards averaging 5 to 7% by shopping at merchants in the new merchant network.   » Continue Reading